Business Bank Accounts

Help your company grow by choosing the right business bank account to suit your business needs. Compare business current accounts available from the major high street banks and online providers for the latest features and introductory offers in the tables below.

Compare business accounts for startups and switching

Lloyds Bank
Business Current Account
  • Support from a Business Management Team
  • No limit on deposits or withdrawals and no minimum account balance required
  • Get a 30-day free trial of our Business Toolbox: a suite of useful online tools to help you start, manage, and grow your business
  • Account fee - Free for 18 months
Interest (AER)
0%
Overdraft Facility
Free Transactions
CardOneBanking
Business Account (Start Ups)
  • No credit checks and no branch visits
  • Free text alerts each time money is paid in and confirming bills are paid
  • No bounced payment charges
  • Most accounts opened within 3 hours of application
  • Account fee - £12.50 per month plus £55 application fee (refundable if application is not successful)
Interest (AER)
0%
Overdraft Facility
Free Transactions
Cashplus
Business Current Account (Start Ups)
  • Low cost - no monthly fees, just one low annual fee of £49
  • Free to pay in cash and receive Bank Transfers
  • UK Call Centre, Online Banking & Mobile App
  • No credit check or interview - apply instantly online
  • Accounts typically opened within 5 minutes of application
Interest (AER)
0%
Overdraft Facility
Free Transactions
Lloyds Bank
Business Current Account Switcher
  • 7-day switch guarantee service
  • 6 months free day-to-day banking (for businesses with a turnover of up to £125,000)
  • Manage your account online, over the phone or through extensive branch network
  • Account fee - Free for 6 months
Interest (AER)
0%
Overdraft Facility
Free Transactions
CardOneBanking
Business Account (Switchers)
  • No credit checks and no branch visits
  • Free text alerts each time money is paid in and confirming bills are paid
  • No bounced payment charges
  • Most accounts opened within 3 hours of application
  • Account fee - £12.50 per month plus £55 application fee (refundable if application is not successful)
Interest (AER)
0%
Overdraft Facility
Free Transactions
Cashplus
Business Current Account (Switchers)
  • Low cost -No monthly fees, just one low annual fee of £49
  • Free to pay in cash and receive Bank Transfers
  • UK Call Centre, Online Banking & Mobile App
  • No credit check or interview - apply instantly online
  • Accounts typically opened within 5 minutes of application
Interest (AER)
0%
Overdraft Facility
Free Transactions

Our service is free of charge but we may receive a commission from some of the companies we refer you to. These are displayed with a green button. Table position does not imply product strength or superiority.

More about business current accounts

If you run your own business, you could probably benefit from opening a specialist, dedicated current account for your company. Offered through all of the usual banks and building societies such as Barclays, Lloyds, Natwest, Santander and more along with specialist providers, business bank accounts offer debit cards, overdraft facilities, cheque books and automated payments such as direct debits and standing orders, just like a personal account does.

Over and above this, a business bank account usually offers a range of additional benefits. These can include change facilities, the option of a much higher overdraft, access to business guides and training materials, the use of communal meeting rooms and business-class travel facilities, foreign exchange rate discounts, fast international payments and insurance.

Although there is no legal obligation for companies to hold an actual business bank account, it is vital that the business's monetary affairs are kept separate from personal ones. However, if you are a start-up company or you work as a sole trader and do not think you need any of the additional benefits that a business account offers, a separate personal account will suffice.

Anybody that runs a company of any size is usually eligible to apply for a business bank account, though credit rating restrictions will apply. Some banks provide different accounts depending on the size or type of the business.

The most basic business banking accounts are free. For anything more complicated you'll pay either a flat monthly fee, pay-as-you-go by the transaction or a mixture of both.

Click here to find out more about business bank accounts with Know Your Money's guide.

Helpful links for current account issues

Financial Conduct Authority (FCA) - The UK financial regulator's website features lots of useful information for banking customers covering everything from knowing your rights to how to stop unauthorised payments.

Financial Service Compensation Scheme (FSCS) - The FSCS is the best place to find out if your bank is covered by the compensation scheme and for advice on making a claim.

Financial Ombudsman Service - If you've complained to your bank and are still having ongoing problems then the Financial Ombudsman is the next step - their website covers everything you need to know about making a complaint.

Money Advice Service - The government's Money Advice Service provides unbiased advice on choosing, opening and managing a current account.

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